So I've been thinking about this a bit. The "Not a sticky" box makes perfect sense once you actually have a sticky in there, but I wonder about it being confusing or perhaps a bit misleading the first time it's used.

I don't want to step all over the current interface, but throwing this idea out there:
1) change the box name to say "Sticky Entry"
2) checkbox which says "sticky entry" , instead of radio box with "no sticky" 
3) if selected, then show the radio boxes of the positioning
4) "manage sticky order" link to the settings page, so they can reorder easily, if that's what they want rather than replacing